Chimera Investment (NYSE:CIM) Trading Down 3.6% – What’s Next?

Chimera Investment Corporation (NYSE:CIM)’s share price dropped 3.6% during trading on Wednesday . The company traded as low as $12.37 and last traded at $12.3350. Approximately 248,790 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 616,981 shares. The stock had previously closed at $12.80.

Analysts Set New Price Targets

A number of research firms recently commented on CIM. Wall Street Zen upgraded shares of Chimera Investment from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of Chimera Investment in a research note on Monday. UBS Group cut their target price on Chimera Investment from $16.00 to $15.50 and set a “buy” rating on the stock in a research report on Tuesday, November 18th. Finally, Royal Bank Of Canada lowered Chimera Investment from an “outperform” rating to a “sector perform” rating and set a $13.00 target price for the company. in a research note on Tuesday, December 9th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $14.50.

Chimera Investment Price Performance

The company has a current ratio of 8.22, a quick ratio of 8.22 and a debt-to-equity ratio of 4.75. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of -30.95 and a beta of 1.83. The firm has a 50-day simple moving average of $12.63 and a two-hundred day simple moving average of $13.36.

Chimera Investment (NYSE:CIM) last announced its quarterly earnings results on Monday, March 6th. The real estate investment trust reported $0.46 earnings per share for the quarter. The company had revenue of ($60.05) million during the quarter. Chimera Investment had a return on equity of 7.36% and a net margin of 4.27%. As a group, analysts predict that Chimera Investment Corporation will post 1.57 earnings per share for the current fiscal year.

Chimera Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be issued a $0.37 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 12.0%. Chimera Investment’s payout ratio is presently -370.00%.

Hedge Funds Weigh In On Chimera Investment

Several institutional investors and hedge funds have recently modified their holdings of CIM. VSM Wealth Advisory LLC grew its holdings in Chimera Investment by 64.3% in the third quarter. VSM Wealth Advisory LLC now owns 2,391 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 936 shares during the period. Sound Income Strategies LLC acquired a new position in Chimera Investment during the third quarter worth $54,000. CWM LLC lifted its holdings in Chimera Investment by 508.4% during the second quarter. CWM LLC now owns 5,196 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 4,342 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Chimera Investment by 92.1% in the second quarter. Tower Research Capital LLC TRC now owns 7,140 shares of the real estate investment trust’s stock valued at $99,000 after purchasing an additional 3,423 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in shares of Chimera Investment by 59.2% during the second quarter. BNP Paribas Financial Markets now owns 7,686 shares of the real estate investment trust’s stock worth $107,000 after purchasing an additional 2,857 shares in the last quarter. Hedge funds and other institutional investors own 48.44% of the company’s stock.

About Chimera Investment

Chimera Investment Corporation (NYSE: CIM) is a publicly traded real estate investment trust that specializes in investing in residential mortgage assets. The company’s portfolio primarily consists of agency and non-agency residential mortgage-backed securities, whole loan residential mortgages and other mortgage-related assets. As a REIT, Chimera Investment aims to generate attractive risk-adjusted returns through its focus on high-quality collateral and disciplined risk management.

The firm’s core business activities include identifying and acquiring portfolios of residential mortgage loans and securities from financial institutions and in the secondary market.